Because you'll be the titleholder and you'll be hiring the sub-contractors, you'll be co-responsible for what they're doing.

If I could offer one key piece of advice, it would be to focus on building your CORE 4: a great realtor, contractor, attorney, and property manager.

Focus on potential profit margins and market trends.Be Local: Understanding micro-markets within these neighborhoods can mean the difference between a good flip and a great one.Network: Partner with investor-friendly agents, contractors, and wholesalers who know how to find and secure off-market deals.Nashville's real estate market continues to thrive, and these neighborhoods are at the center of the action.

Here’s my question; did you inform the contractor before he began work of the $9,000 bid from the other contractor, either in writing or verbally?  

Yes 2% and most of those are NOT reoffenders it is a simple thing of being a day late to reregister (and yes they will send you back if you are a day late) The whole registration thing has NEVER prevented a sex crime from happening.

Work directly with on-site Construction Project Manager to insure project construction is per plans and specifications from start to finishProvide supervision of sub-contractors on project siteAssist to ensure construction activities move according to pre-determined scheduleCommunicate effectively with SubcontractorsDaily inspections and presence on project siteIdentify any project design and construction issues and bring to management team.Oversee and report progress of project against project plan scheduleCoordination with Construction Project Manager, all necessary work flow schedules and monitoring of same to insure all deadlines are metInform Management Team of work progress and of all significant matters relating to the projectDevelop strategies to promote efficient and cost-effective work practicesAbility to step into and perform duties on an existing under construction multi-family project.Recommendations will be required.Thank you,Anat

The engineer can help with this estimate, but local contractors are the top source for getting this info. 

Thanks. because existing is super messy and lower returns for general contractors and HIC, I'd recommend looking at new construction too. start to finish 120 days right now on 1-3 family is what our market is going for high volume spec homes that have been built before. 

I'm really interested in hearing directly from professionals in the field: What are main challenges contractors and developers are dealing with on daily basis while building homes?

I have some great agents, contractors, property managers, and attorneys who I can refer you to!